Issue - meetings

To consider the report of Assistant Director Finance.

Scrutiny Committee – Resources considered the report at its meeting on 1 July 2015 and its comments will be reported.

The report of the Assistant Director Finance was submitted to advise Members of the overall financial position of the Housing Revenue Account (HRA) and General Fund Revenue Budgets for the 2014/15 financial year and to seek approval for the General Fund working balance, HRA working balance, a number of supplementary budgets and the creation of new earmarked reserves.

The Assistant Director Finance advised of supplementary budgets including a £100,000 contribution towards the progression of the Innovation Exeter Project and £85,000 to cover overspend in Finance caused by budget pressures owing to cover for a long term sickness and the vacant Procurement Post. It was further noted that an urgent decision had been taken for expenditure of £8,000 to the Exeter Pound for additional staff with match funding and £5,000 to print the notes in the form of an interest free loan to be repaid within one year of the loan.

In response to Members’ questions, the Assistant Director Finance clarified that £3.5m had been set aside to pay off debts and the collection rates for council tax for 2014/5 were on course to be back to the normal level.

The Portfolio Holder for Housing Revenue Account thanked all officers involved in the reduction of the expenditure of the Housing Revenue Account (HRA).

Scrutiny Committee – Resources considered the report at its meeting on 1 July 2015 and its comments were reported.

RECOMMENDED that Council:-

(1)        approves the net transfer of £800,076 from Earmarked Reserves as detailed in paragraph 8.3.6;

(2)        approves the supplementary budgets of £1,458,610 as detailed in paragraph 8.3.8;

(3)        notes the Earmarked Reserves at 31 March 2015;

(4)        notes the Council Tax account and collection rate;

(5)        notes the outstanding sundry debt, aged debt analysis and debt write-off figures;

(6)        notes the creditor payments performance;

(7)        by taking into account the overall financial position of the Council, approves the General Fund working balance at 31 March 2015 at £3,974,518; and

(8)        approves the Housing Revenue Account working balance at 31 March 2015 at  £7,772,403 and approves the Council Own Build working balance at £127,994.

To consider the report of the Assistant Director Finance.

The Assistant Director Finance presented the report which advised Members of the overall financial position of the Housing Revenue Account and General Fund Revenue Budgets for the 2014/15 financial year.  The report sought approval for the General Fund working balance, and the HRA working balance, and paid tribute to all those involved who had worked to turn around a challenging position in respect of the Housing Revenue Account.  He also provided the background to a number of supplementary budgets totalling £1,320,610, which had been included in the report.

The following responses were given to Members’ questions:-

·         Payment at pay and display machines through credit cards had achieved £142,000 of unexpected income;

·         an assurance that the routine maintenance of the essential network of CCTV cameras and replacement of faulty hardware would continue;

• the level of write-offs in respect of council tax was under constant scrutiny, but cases of debt involving debt relief orders or bankruptcy were growing year on year.

A Member commented on the Markets and Halls team and their contribution to the Council’s income stream through the delivery of an attractive programme of events, and he hoped, that at some point, issues such as the limited capacity could be addressed. The Corporate Manager Property stated that, as part of an Asset Management programme, a number of projects would be taken forward in the future.  The emphasis was currently on the Bus and Coach Station site, but after this project, the area around the Fore Street, North and South Street interchange would be addressed, and this should rebalance the city centre and also the level of void properties in South Street.

Scrutiny Committee – Resources noted the report and requested that Council note the overview of the Resources Budget for 2014/15 and approve (where applicable):-

(1)        the net transfer of £800,076 from Earmarked Reserves as detailed in paragraph 8.3.6;

(2)        supplementary budgets of £1,458,610 as detailed in paragraph 8.3.6;

(3)        Earmarked Reserves at 31 March 2015;

(4)        the Council Tax account and collection rate;

(5)        the outstanding sundry debt, aged debt analysis and debt write-off figures;

(6)        the creditor payments performance;

(7)        having regard to the General Fund working balance of  £3,974,518 as at 31 March 2015, and overall financial position of the Council as set out in paragraph  8.3.7; and

(8)        the Housing Revenue Account working balance as at 31 March 2015 £7,772,403 and the Council Own Build working balance of £127,994.